Brent Crude Oil Falls Below $30 for First Time Since April 2004

January 13, 2016 6:42 PM

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Brent oil dropped below $30 a barrel for the first time since April 2004 on speculation Iranian shipments will soon climb.

Crude fell as much as 2.9 percent in London on signs that the nuclear deal between Iran and world powers may be implemented by the time markets open on Monday, triggering sanctions relief for the Islamic Republic that paves the way for a surge in oil exports. It will add 500,000 barrels a day of exp...